Sunday, 26 April 2015
Last updated 1 day ago
Dec 1 2005 | 9:43pm ET
New York-based India Capital Management is readying to the launch its first India-focused fund, the India Deep Value fund, by year-end. Raj Agarwal, manager of the fund, said the new offering will invest in mid-cap Indian equities.
The firm is targeting clients in both India and the U.S., including institutional investors and high-net-worth individuals. Currently, the fund, which will have a two-year lockup, has secured "a few million" in commitments, and Agarwal expects this figure to rapidly reach $50 million.
Agarwal believes that the biggest hurdle to jump over when it comes to investing in India is convincing investors that the country is a safe place to put their money with strict enforcement of rules and regulations. "We need to educate people that it's not a third-world country," he said, adding that most of the investors he deals with are actually aware of "India's story."
The fund will be registered in Mauritius, where Agarwal said he has encountered more bureaucracy than he had anticipated. "Be prepared to wait for a long, long time," if you are registering your fund in Mauritius, cautions Agarwal. "Over there they assume you are a criminal until you prove them otherwise," he laughed.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…